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MSOS

YOLO

Eric Espinoza, Vice President of Green Life Business Group, discussed M&A trends in the cannabis industry at Benzinga's Cannabis Capital Conference, highlighting an increase in cash and equity deals, especially with receivership listings.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:04 pm

MSOS

YOLO

At the Benzinga's Cannabis Capital Conference, Dustin Milner, CEO of Talarya Brands, emphasized the importance of cash as the most valuable resource in the current market for mergers and acquisitions (M&A) within the cannabis industry. He highlighted the significance of achieving a return on cash investments as a critical factor for success.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:01 pm

MSOS

YOLO

At Benzinga's Cannabis Capital Conference, Dustin Milner, CEO of Talarya Brands, discussed M&A strategy, emphasizing that until there's more investor interest and capital inflow, funds will be prioritized for operations over acquisitions.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:58 pm

MSOS

YOLO

Emily Paxhia, Founding Partner & Managing Partner at Poseidon Investment Management, discussed at Benzinga's Cannabis Capital Conference that M&A deals in the cannabis sector are likely to continue as mixed cash and stock transactions due to the high cost of capital currently.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:53 pm

JNJ

MRNA

PFE

SWAV

Johnson & Johnson (JNJ) reported mixed Q1 results with adjusted earnings beating estimates, driven by its medical devices business, notably after acquiring Shockwave Medical Inc (SWAV). Revenue was nearly in line with estimates, showing a YoY increase. The report highlighted weak sales in vision care but strong performance in cancer drug sales, including Darzalex and Erleada. JNJ narrowed its full-year guidance and is focusing on strengthening its position in both the cardiovascular and cancer treatment sectors, similar to efforts by Pfizer (PFE) and Moderna (MRNA) who are also focusing on oncology.

Portfolio Pulse from Upwallstreet

April 16, 2024 | 3:49 pm

JAGX

Jaguar Health, Inc. (NASDAQ:JAGX) shares surged after announcing a 5-year exclusive in-license agreement with Venture Life Group PLC for Gelclair, an FDA-approved product for oral mucositis treatment. The deal marks Jaguar's entry into cancer supportive care. The stock experienced heavy trading volume, with over 240 million shares traded, significantly above its 100-day average. Despite a yearly decrease of 68.97%, JAGX has risen 172.33% over the past month. The stock's RSI of 70.7 suggests it is currently overbought.

Portfolio Pulse from Erica Kollmann

April 16, 2024 | 3:48 pm

Boeing Co (NYSE:BA) has announced its largest annual purchase of sustainable aviation fuel (SAF), totaling 9.4 million gallons, to support its 2024 U.S. commercial operations. This purchase, which is over 60% higher than the previous year, will aid the Boeing ecoDemonstrator program and its U.S. commercial flights. The SAF consists of 30% waste by-products and 70% conventional jet fuel. Boeing also plans to buy CO2 emissions reductions for 5.4 million gallons of SAF through a book-and-claim process. EPIC Fuels and Avfuel will supply the SAF, with contributions from Neste.

Portfolio Pulse from Shivani Kumaresan

April 16, 2024 | 3:40 pm

FTI

HES

IYE

XLE

XOM

Exxon Mobil Corporation awarded a large contract to TechnipFMC for subsea production systems for the Whiptail project in Guyana's Stabroek Block. The contract, valued between $500 million and $1 billion, includes 48 subsea trees, 12 manifolds, and associated equipment. This project, with an estimated resource base of over 850 million barrels of oil, is part of a $12.7 billion investment decision made by Exxon and Hess Corporation. Investors can gain exposure to Exxon through the Energy Select Sector SPDR Fund and iShares U.S. Energy ETF.

Portfolio Pulse from Lekha Gupta

April 16, 2024 | 3:31 pm

General Motors (NYSE:GM) has seen unusual options activity, indicating a divided sentiment among deep-pocketed investors, with 50% bullish and 50% bearish. The activity focuses on a price band between $36.5 and $55.0. GM's current market performance shows a slight decline, with an anticipated earnings release in 7 days. Analysts maintain a positive outlook, with an average price target of $48.75. The company's history, market share recovery, and future prospects with its Cruise autonomous vehicle arm are also highlighted.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 3:31 pm

ALK

U.S. consumers have filed a lawsuit to halt the proposed merger between Alaska Air Group Inc and Hawaiian Airlines, arguing that the consolidation could reduce competition and negatively impact consumer choices and prices.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:21 pm